AutoNation CEO Michael J. Jackson told CNBC Wednesday the government owes his company about $45 million in rebates from the cash-for-clunkers program, but said he still has faith in the program.
Jackson said he is confident that the backlog will be broken within the next several weeks and the rebates will begin to flow smoothly.
The problem is, soon, the program will be ending.
“The program is succeeding on every level, except for this administrative log jam that we have at the moment, which I am very confident we will get get fixed,” said Jackson.
